Office-Warehouse Flex
150 Research Drive, Hampton, VA 23666
For Sale
Contact for pricing
Located within an Enterprise Zone and Opportunity Zone, the property combines office and warehouse areas under LBP zoning.
Property Size39,737 SF
Price / SF$134.64
Days on Market14
Property Features for 150 Research Drive
General Information
Standard status
Size
Property subtype
Zoning
Financials
Asking Price
Opportunity Zone
Site & Location
Neighborhood
Warehouse & Industrial
Office Build-Out
Conditioned Warehouse
Additional Details
Property Use
Building Details
Buildings
Stories
Building Size
Listing Agency:
Harvey Lindsay Commercial Real Estate Peninsula
Listed By:
Matt Leffler CCIM · License #0225065290
(757) 640-9284
Source:
Crexi
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 8 at 2:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Harvey Lindsay Commercial Real Estate Peninsula
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Investment Insights
Based on property information with market context.
This single-story flex property at 150 Research Drive in Hampton, Virginia, contains 39,737 square feet. Its layout includes 14,037 square feet of office space, a 17,900-square-foot climate-controlled warehouse, and 7,800 square feet of high-bay warehouse space. Overhead crane support tracks are in place in the high-bay area.
The property is zoned LBP (Langley Business Park) and is situated in both an Enterprise Zone and an Opportunity Zone.
The property is zoned LBP (Langley Business Park) and is situated in both an Enterprise Zone and an Opportunity Zone.
Key Highlights
- 39,737 SF single‑story office‑warehouse property
- 14,037 SF of office space
- 17,900 SF climate‑controlled warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$316,160
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,323,200
$6.3M
Cap Rate 7%
$4,516,571
$4.5M
Cap Rate 9%
$3,512,889
$3.5M
Market Conditions
NOI Build-Up for 39,737 SF
Gross rent
$386.2K $9.72/SF
− Vacancy
−$14.3K −$0.36/SF
EGI
$372.0K $9.36/SF
− OpEx
−$55.8K −$1.40/SF
NOI
$316.2K $7.96/SF
Area
Hampton, VA
Vacancy
3.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,323,200
Cap Rate 7%
$4,516,571
Cap Rate 9%
$3,512,889
Alternative Uses
Best Use
Mixed Use
$7.05M
$6.17M – $8.23M
NOI $493,534 @ 7.0% cap · market cap 9.22%
Second Best
Warehouse
$4.52M
$3.95M – $5.27M
NOI $316,160 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$10.33M
$9.04M – $12.06M
NOI $723,372 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 23666, VA
52,845
Population
25,117
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
91%
High-School Grad
19.4 sq mi
ZIP Area
2,724
Density / Sq Mi
$70,798
Median Household Income
$42,552
Median Earnings
$1,439
Median Rent
$241,600
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Located within an Enterprise Zone and Opportunity Zone, the property combines office and warehouse areas under LBP zoning.
Where is this flex space located?
The property is located at 150 Research Drive Hampton, VA.
What is the asking price?
The asking price for this property is $5,350,000.
What are key features of this property?
This property features: 39,737 SF single‑story office‑warehouse property; 14,037 SF of office space; 17,900 SF climate‑controlled warehouse
